OpenAI plans new Tokyo office as Tesla layoffs arrive

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 15 April 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Equity is back with two critical headlines this morning. First, OpenAI is going to Japan with plans for an office in Tokyo and a new GPT-4 model for the Japanese language. Given that the US, the EU, and China are all racing for leadership in AI, OpenAI’s expansion into the Japanese market could expand the list of leading blocs and nations. The second critical piece of news this morning comes from Tesla, which is cutting more than 10% of its total global staffing. The company told employees the cuts were due to role duplication, but with the company also cutting prices and seeing its growth ebb, demand concerns are being discussed as a partial driver for the cost cutting. And there’s lots more going on: The upcoming Rubrik IPO is leaking early pricing ranges, ShareChat’s valuation is taking hits, and global smartphone sales are picking up. To work!

Transcript

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0:00.0	Hello and welcome back to Equity, the Tech Runge Podcast about the business of
0:15.1	startups where we unpack the numbers and the nuance behind the headlines.
0:19.4	This is Alex Good Morning. Today is April 15th, 2024.
0:24.4	Welcome to our Monday show,
0:26.0	where we take a look back at the weekend
0:27.6	and peak at the week that is to come.
0:30.0	Today on the podcast for you, have stocks and crypto including the upcoming
0:34.7	Bitcoin having an IPO update for a rubric for all you late-stage startup
0:39.1	fans out there open AI going to Japan, rising smartphone sales, layoffs at Tesla, and ShareChats new valuation.
0:47.2	It's a mixed bag this morning, but a great set of stories from all around the world.
0:51.3	Let's go. Let's start with a look at the world of money and that means the stock market.
0:59.0	Shares are lower in Asia, largely higher in Europe, and set to rise at the open here in the United States.
1:07.0	Now reading the financial press this morning, the chance of war between Israel and Iran is naturally clouding sentiment, but even given those
1:15.5	pressures shares are rising in many places. On the earnings front, good news. There's lots
1:21.0	of banking earnings to start the week, which we don't have to care about.
1:24.5	But then later on, we'll hear from ASML on Wednesday and TSC on Thursday.
1:30.9	So if you care a lot about the state of the semiconductor industry, well, good data is coming your way.
1:37.0	Elsewhere, Netflix and Nokia should drop their numbers later this week.
1:41.0	Things that have been more dynamic over in crypto where we have seen a sell-off in the last week.
1:47.5	Bitcoin is off about 8.6% in the last seven days to $66,000000 and Ethereum is off about 10.8% in the last week to $3.2,000.
1:58.9	Both recovered a little bit in the last 24 hours but smaller tokens took even more damage.
2:05.0	I've seen lots of declines in the 15% plus range over the last week,
	...

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